The dollar edged higher against safe-haven currencies such as the yen and Swiss franc after reassuring news on the Omicron COVID-19 variant, while units like the Australian dollar that had weakened in recent weeks on growth worries also advanced.
The dollar edged lower Friday, weighed by gains to the safe haven yen and Swiss franc, as traders dumped riskier currencies in the wake of the discovery of a new highly-mutated coronavirus variant.
The U.S. dollar lost a little ground on Friday as high inflation wreaked havoc on consumer sentiment, but the greenback was on track for its biggest weekly gain in almost three months after a surprisingly strong U.S. inflation print on Wednesday prompted investors to advance their bets for a U.S rate hike.
The dollar jumped on Friday to hit its highest level in more than a year, after data showed stronger U.S. job growth than expected in October, but retreated a bit in late trading as risk appetite improved and stocks rallied.
The dollar eased versus its main rivals on Monday, after posting its biggest daily rise in more than four months in the previous session, as traders position themselves ahead of this week's highly anticipated U.S. Federal Reserve policy meeting.